Funds held by institutions for retirement provision: freedom of management and investment

The Commission accepted, in spirit at least, two Parliament amendments: - the amendment intended more clearly to define the Directive's scope of application: although the Annex largely corresponded to the content of the lists included in Regulation 1408/71, the objectives of this Regulation and the draft directive were sufficiently different to justify a separate list, especially to avoid any automatic amendment of the scope of application of this Directive whenever the lists annexed to Regulation 1408/71 were amended. The indicative nature of the list was nevertheless retained. - the amendment to extend the restrictions on placements in responsible enterprises to 'associated enterprises'. The other amendments were not accepted.�